What is an equitable remedy?

An equitable remedy is fundamentally concerned with fairness and justice, rather than just monetary compensation. It typically involves a court ordering a party to either do something or refrain from doing something, thereby requiring specific performance or an injunction. This approach is applied when financial compensation is deemed inadequate to rectify the harm caused or to prevent future harm. For example, in a situation involving a unique piece of property, a court may order the seller to transfer the property to the buyer rather than simply providing monetary damages for a breach of contract. This focus on specific actions or proper conduct differentiates equitable remedies from other forms of legal remedies which may not address the unique circumstances of a case as effectively.